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<br /> -_� - pryments,which are nferreci to in PurrQsaph 2,or chunyc t}� muuwu af�uch puymcnts. Any oxec�s pr�cer.tlx avec att �-
<br /> �_ amaunt rcquired ta�ty�I)out�tandinY indebtedncx:undrr the Nate and thi�Socunry Inrtrument Riudl bo p�id ta tha entlty
<br /> le�ally entitled thercto.
<br /> ,, � 8. Fea. I.ender may collect fees and ctwrYes authoii�ed by the Secreuery.
<br /> 'i'L� 9. Groundu tor Acteleratiou ot 11ebt.
<br /> n �
<br /> - (�)Defaul� I.ender mry.except�.w limited by regulations i,sued by the Src;retary in tho case aipaymant defipltw
<br /> - . �.:a:•, requirc immediate payment m full af ull sums securcd by thi�Security Instrumcnt if:
<br /> (i)Barrower defaults by failing w puy in full uny monthly paymcnt r�yuired by thl�:Sceurity lnswmrnt.pri�r •-
<br /> ; Y! ^��' '� to ar on tha due date af the next monthly payment,or
<br /> `�`� (ii)Borrower defaults by fuilinY.for a periud of thirty duyx.ro perfcum any othcr obligati�ns contqinud in this
<br /> � � `x'.�`'":� Secudty Insaument.
<br /> "�'-���� •(b)Sale Without Credit Approvxl. Lender shall.if pecmittad by upplicablc luw wtd with ihw pno�appeaval of the
<br /> Y � '"+`' ' "• ' Secretary re uirc immediate a ment in full of ull the sunt�necured by thi�Secu�it}r lni:trumFnt if:
<br /> �a »� i�r'�3q.�o.•.:M:,, a P Y
<br /> ��;:.�;<<<*: . =�..µ (i)Alf or part of the Propcsty,or a bene�cial interes� in a wst uwning uli ar part of►hn Property,ic sold or _
<br /> - -- -- .:...�,._ otharwise t�•►nsferred(other than by devise or descenq by the 8orrowei,pnd _._
<br /> —��:��-�.,�.;•:. (if)Th�Pc�crty is not occupied by the purchaser or grantce as his.ar h�r principal residena,or the purchn.er
<br /> `� ., ••.. j'�`` or grantGe does so accupy the Property but his or her cmdit haY nat been approved in accordance "-
<br /> - �. ' 1 with ths reyuiremenGti of thc Secretary. �
<br /> .^}b,r�� (c)No WpWer. If circumstancex accur that would permit l.ender to reyuiru immediatn payment in full,but l.ender _-
<br /> .:_-_ ' � duc�not reyuire such paymcnts,Lendcr does not weivc it.ri�htc with m�pect t��nhwquent events. �_
<br /> -'y° �x,�q�,•����•�;_ (d)Re�uls�tioas ot H UD Seeretr�ry. In many circum�tunces regulntiom�hsued by tha Secrctary will limit Lender's —
<br /> � �:i � rights, in the case of p�yment defaults, to reyuire immediate payment in full nnd foreclose�f nat paid. Thix
<br /> �^';;;...�.�:"' .
<br /> �....;.
<br /> Security Instrument does not authorizc acceierauon or forcclosurc if not permittcd by mgulatfnn.of the Secrctary. _.
<br /> +r • �• (e1 Mortp�age Not Insured. Borrower agrecs thut should this Security Ins�u���f��t thc note recumd thereby not __
<br /> ���� �� � bo eligible for insur.uice under the Nat�onul Housing Act within from tbe _
<br /> , ._. .�, � date hereaf,Lender may,at its option and notwithstanding:u�ythinR in P�aragraph 9,requirc immediute payment in �f�.
<br /> �•�� �.i fnU of�Il:;ums cecured by h' ty Instrumant. A written statement of any uuthorized usent of the Secretary �'�
<br /> :';`;.�. . , � ���� from the data hereof,dectinin�to insure this Sccurit --
<br /> dated subseyuent to b Y
<br /> . �:'`` "`''`�� Instrument and the note secured thereby,shull be deemed conclusive proof af wch inaligibility. Notwithxttu�ding
<br /> • • the foregoing,this opticxi may not be exerciecd by Lender when tha unuvuilabiliry of intiurunce is uwlely due to
<br /> Lender's failu�e to remit a mortgagc insurance premium to thc Secratary.
<br /> 10. Reinstatement. Borrower hus a right to be minstuted if Lendcr has myuired immediate payment in full because -
<br />_ "' ' of Borrowcr's failurc ta pay an amount due under tho Note or this Sccurity Intitrument. This nght applios cvcn after
<br /> -`'""' "`' foreclosum proceedings are instituted. To rein�tate tlw Security Instrument, 8orrower shall tcnder in a lump sum all
<br /> �;_•-_"-=s ._•
<br /> . - - �--- amounts requ�red to bnng Borrower��tccount curnni i�x:iudi�i�i,to th�ertent they are obligatians of $ocsaucr under shis
<br /> � • Security instrument,foreclosure rost;and reasonable und cuscomur}•uttomeyz'fecs and expcnxs propcdy acsociated with
<br /> � the fomclosum proceeding. Upon relnstatement by BoROwer, thi�Security lnstrument und tho oblfg�tions that it�ecures
<br /> shall remain in effect as if Lend�r hud not reyuired�mmcdiAtc payment in fult. Howcvcr,I.cnder is not requircd to Qermit
<br /> . '' � reinstatement if: (i)Lender hus accepted remxtatement after the commencem�nt af fonxlocure proceedings withtn two _
<br /> .•. . yeurs immediatel preceding th� commencement of u current foreclosure proc:eeding, (ii) reinstatement will preclude fi_`
<br /> " ' forecla�ure on di�CtCll[�tUUllt�s in ihe futur�:,or(iii)reinstatement wi!! •rdversely uffect the�+rioriry c.f the li�n c•m:�ted by __
<br /> •• ,f ,; this Security Instrument. -.
<br /> � ,���rt:� 11. Borrower Not Released: �urbearancc by Lender Not a Waiver. Extension of the time of paymcnt or
<br /> � modification of umonization of tho sumn.ecured by thi�Srcurity Instrument granted by Lender to nny sucrrssor in interext __��_-�
<br /> 31„_ , .� of Borrower�hsll not ope�atc to mlea�e thc liahility��f the uriginul Borrowcr or Qorrower's succcssor in intcrest. Lender -`
<br />_ .. � �'" " ' ' st►all not be requircd to commence proceedingr.ubmnst:uiy,ucce�snr in intere�t o�refusr to e xtend time for payment or �-
<br /> �, . otherwisc modify umortizution of tho sumr: +ccur�J by thi�.Security lmtrument by rca�un of any dcmnnd mude by the �.
<br />- •.i . • original Borrower ar Borcower's succc�son in intercxt. Any furbearuncr by Lrnder in exercising uny right or remedy shall =_
<br /> '�� not be u wuiver of or preclude thc cxcrciu of•rny right or remcdy.
<br /> ' 12. Su��cessors and AssiRns Bound;Joint and Sever�l Liabilitr;Co-SiKnerti. The rovenant.und agrremcros of
<br /> • '� ''�.: ` this Security Instrument shall bind und txnefit the surccssor.r and u.xigm of Lender und BoROwcr,�ubjat to the provisian� =•�
<br /> G .,��'. of ParagrAph 9.b. Borrower's covenunts and agrcemcmti �hall tx:joint and ,everal. Any Burruwcr who co•�igm this ��:
<br />- Security Instrument but doe.not execute thr Nc�tc: (u)is cu•tiigning this Srruriry ln.trument only to mortKuge,grant atnd `.
<br /> • • convey thut Borrower's interest in the Pn>perty under the terms of thi.Security(nstrumrnr,(b)i. not p�:nonally obliguted to ,r'
<br /> ;-• � �` pay tha sums secured by thi�Securiey Instrument:and tcl agreeti that Lrndrr:uiJ any uther Borrower rnay agrce to extend, �
<br /> ,. �r,.�
<br />- w '" modify,forbear or make uny acrnmmodutions with regard to thc trrm.of'thi�Serurity In.trum�nt or the Nc�tr without thut
<br /> ��'`• Borrowcr's conscnt. __
<br /> T �,°���� 13. N�tices. Any notice to Barruwer provided for in thi.5�curity Instrument .hul!he given by drlivering it or by �
<br />,"�. :r ' • muiling it by ftnt claxs mnil unlcss applicable law reyuirc.usc��f anuthcr mcthixi. Thc noticr shall bc din:cted to thc .
<br /> - �. �'� Properiy Addre.s or any othcr address Borrower dc+ignate.by noticc tu Lende�. Any notirc to Lcndcr shall lx given by �
<br /> �.k� ��� '�" ftrst class mail to Lendcr: addrcss stated henin or any addre�ti I.endrr detiign:uc, Ny notire tu Bc�rrower. Any notice
<br /> �..'� �"' �� "`��'���' �rovided for in this Sccurity Instrument xhalt bc dccmed to have bcen given to Horcuwcr��r Lcncicr whcn�ivcn as provided
<br /> �;�I..�e� .. . �_
<br /> , �,• ��n�, . m this paragraph. --
<br /> ° ,, �:� � 14. Coverning Lstw: Severability. 7'his Sccurity In+trument xhall Mc guvrmcd hy Fcd�ral law;uid thc law of the z
<br /> ' ��. jurisdiction in which the Pcvperty is Ioc�atcJ. In the event that any provitiion or clau,e uf thi� Security instrument ur the
<br /> r�� 4~x..'.:.,<' '�,:'".'', Note cunflicts with applicable laa�,sueh contlict shall not affert c�ther pravi�ion�of thi�Securiry Intitrument or the Nnte �.
<br /> �'�'''''� `� ''i�'��"� which can be given effcrt without the contlicting provixion. To thiti end thr pmvi�ion.of this Security Instcument nnd the __
<br /> -- �,a�t� :� • ..:;�.,�`� °
<br /> c ... ,��,,._ Note are decl:ued to be scvcrrble. _
<br /> •-:�`�'�:"� ' I5. Borrower's Copy. Borrower tihall br given one conformed r��py ot'thi�Sccuriry In.trument. --
<br /> ,, � ""`"�?t"��f�•:''' 16. Assignment of Rents. Barrower unconditinnully a.+ign�und trantifrr.to LrnJrr all the mnts;u�d r�:venues of the
<br /> -=" '��=��.:;- Property. Bortower authorites Lender or Lender:agents to collect the rent.and revenue.und hereby dircr.ts each tenant of �
<br /> - thc Property to pay the renGti to L.ender or Lender:ugents, Howrver, prior to Lendcr's notice to BorTOwer of Borrower's ��
<br /> -_°� --- --_ bceach of any covenant or ugreement in the Security Instrumenc,Borrowcr shall collect:md rccei ve all rcnts and revenues of
<br /> :� ---- the Property as ttustee for the benefit of Lcndcr und Borrower. This aYSignment of rent.constitutes un abwlute assignment €
<br /> �nd not an assigntnent for additional security only. `
<br /> �
<br /> .._ _. "" " . . . •• _"... "":.._J L_.�a__""'_..L_�1 4_L�1.1 L�.0��......�......�. �
<br /> It 1.CIIdCI gIVCS IIOIICC OI 0[C7CII[V DUI7VN`Ci: (itI Ytt tcu��tc�ct�c�v� aivuvw�� auau va,anw v,�wuv..�.�.0 wu°o:v _
<br /> = for beoefit of Lender only,to be applied to the sums sccurcd by thc Sccurity Instrument;(b) I.ender shull be entitled tu
<br /> colloct u�d n�oeive�II of the rcnts of the Property;and(c)exh tenant of the Properry shall pay all rents due and unpaid to '
<br /> i,p�der or Lender�agent on Lender�written demand to the tenant. '"
<br /> Bomower has tat executed Any prior assignment of the mnts and hus not and will nat pedorm any act thut would k"
<br /> prevent Lender ftom txercisin$its ngt►ts under this Paragraph 16. �
<br /> L.ender sh�ll not be tequued to enter upon.take cuntrol of or mxintain the Property beforc or afrer giving noticc of "
<br /> breach W Borrowa. However.Ln�der or a judjcially apQointed i�eceiver may do w;�t any time there is a bceach. Any '
<br /> �pplicatkn of rents shall not cu�or waive any default or mvalidate ony other right or mmedy of I.ender. This assignment ''
<br /> ef�a�ts of the Propnty clWl tem�inate whet�the debt saured by the Serurity Insuument is puid in full. �
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